The Karnataka Innovation Authority Act, 2020
The Karnataka Innovation Authority Act, 2020
General202032 sections
This Act establishes the Karnataka Innovation Authority to promote innovation within the state. It creates a framework for "Regulatory Sandboxes," which allow businesses and individuals to test new products and services under special permissions that temporarily modify or exempt them from existing laws. The Authority oversees these sandboxes and recommends legal changes to support innovation. By providing a safe testing ground, the law helps the government foster technological growth and economic development while ensuring public safety through controlled experimentation.
- 0. Preamble
- 1. Short title and commencement
- 2. Definitions
- 3. Karnataka Innovation Authority
- 4. Composition of the Authority
- 5. Meetings of the Authority
- 6. Vacancies, etc., not to invalidate proceedings of the Authority
- 7. Powers and functions of the Authority
- 8. Sub-committees of the Authority
- 9. Permission to establishing a Regulatory Sandbox
- 11. Suo Moto Establishment of a Regulatory Sandbox
- 12. Terms and Conditions for participants in the Regulatory Sandbox
- 13. Regulatory Sandbox to be established by Notification
- 14. Participation in the Regulatory Sandbox
- 15. Modification of Regulatory Sandbox
- 16. Expiry or Withdrawal of the Regulatory Sandbox
- 17. Appeals
- 18. Establishment of Technical Secretariat.-(1) The Authority shall be assisted by
- 19. Budget of the Authority
- 20. Funds of the Authority
- 21. Accounts and audits
- 22. Annual Report
- 23. Confidentiality of Information
- 24. Protection of action taken in good faith
- 25. Penalties
- 26. Bar of Jurisdiction on Civil Courts
- 27. Power to removal of difficulties.
- 28. Act to override other laws
- 29. Power to make rules
- 30. Power to make regulations
- 31. Transitory provisions
- 32. Repeal and Savings
PDF: pending for this language.